Audit Committees: Contrary to the requirements of Treasury Regulation 27.1.8 and the audit committee terms of reference, the audit committee did not conclude on all of its responsibilities in the following areas: (i) Self assessment questionnaires were circulated to the audit committee members but consolidated responses and feedback were not formally tabled to the committee for consideration; (ii) the effectiveness of internal controls was not adequately monitored by the audit committee for the period April to August 2011 to consider the impact of the findings and corrective action; (iii) financial and performance information upon which strategic decisions are based was not consistently evaluated by the audit committee throughout the year to assess the adequacy, reliability and accuracy of such information, as quarterly financial and performance reports where not consistently presented for consideration. The National Treasury pack was submitted without review by the audit committee; and (iv) evidence could not be presented that: (a) the audit committee had reviewed the processes and controls designed to ensure the communication of the codes of conduct and ethics to all SABC personnel, as well as the processes and controls designed to monitor compliance therewith, and (b) the controls designed to ensure that assets are safeguarded were monitored and reviewed by the audit committee.